Since peaking on July 20, the iShares Nasdaq Biotechnology ETF (NASDAQ: IBB), the largest biotech exchange traded fund, is off 15.2 percent. That is a correction and a half. Biotech sneezing has helped the broader healthcare sector catch a hold.
Over the past 90 days, the Health Care Select Sector SPDR (NYSE: XLV), the largest healthcare ETF and one that allocates more than 20 percent of its weight to biotech stocks, is lower by 8.2 percent. Biotech stocks and ETFs have been plagued by political grandstanding and the almost always present valuation concerns with both scenarios combining for significant headwinds for the sector.
BB's top 10 holdings include well-known biotech behemoths such as Celgene Corporation (NASDAQ: CELG), Amgen, Inc. (NASDAQ: AMGN) Gilead Sciences, Inc. (NASDAQ: GILD). This is a top heavy ETF, meaning the fact that short-sellers ...
/www.benzinga.com/general/biotech/15/10/5943648/biotech-etfs-buy-buy-buy alt=Biotech ETFs: Buy, Buy, Buy?>Full story available on Benzinga.com
More...